MoEngageAI, a customer engagement platform that works with consumer brands in 75 countries, says it has raised new funding led by its existing investor, Goldman Sachs Alternatives, to accelerate global growth and incorporate more AI into its platform.
All told, as part of MoEngage’s Series F round, $100 million of shares just traded hands, roughly 60% primary and 40% secondary. The funding marks the entry of Indian venture firm A91 Partners as a new investor, which is co-leading the round with Goldman Sachs Alternatives. According to MoEngage, it has now raised a total of $250 million in funding.
As consumer brands increasingly rely on digital channels to reach customers, the competition for attention has intensified. This has led companies to use the customer data they already have to provide more personalized marketing. While established marketing platforms continue to serve this sector, brands are now looking to AI-powered tools that can automate decision making and reduce manual labor. MoEngage positions itself in this segment with its Merlin AI suite, which helps marketing and product teams launch campaigns faster and improve targeting efficiency.
“We help B2C brands engage more effectively with their customers by leveraging the first-party data they already have,” Raviteja Dodda (pictured above), co-founder and CEO of MoEngage, said in an interview.
The 11-year-old startup spent its first seven years focusing largely on India and Southeast Asia. Dodda told TechCrunch that over the past four years, it has expanded its reach to new markets, particularly North America, which now contributes more than 30% of its revenue. About 25% of trade comes from Europe and the Middle East, and the remaining 45% comes from India and Southeast Asia.
The support of Goldman Sachs in the latest funding will help further strengthen MoEngage’s global presence. The investment bank also co-led the startup. $77 million Series E round With B capital in June 2022.
“Existing investors know the most about the company, how the company performs, and they know everything, good and bad,” Dodda said. “(Goldman Sachs) leading the round is a strong affirmation of our fundamentals.”
techcrunch event
san francisco
,
October 13-15, 2026
Over the past two to three years, MoEngage has invested heavily in generative AI and decision-making AI capabilities. These efforts are reflected in its Merlin AI suite, which Dodda said includes a series of AI agents built for marketing use cases.
Some of these agents work like copywriters, helping consumer brands draft marketing messages, create multiple types of campaigns, or create natural language text to accompany relevant images. The suite also includes decision-making AI tools that help brands determine which customers should receive a particular message or offer, on which channel and at what time, Dodda said.
MoEngage currently serves over 1,350 consumer brands worldwide, including SoundCloud, McAfee, Kayak, Domino’s, Deutsche Telekom and Travelodge as well as major Indian household names like Swiggy, Flipkart, Ola, Airtel and Tata. About 60% of the company’s business comes from traditional enterprises, while the remaining 40% comes from Internet-focused firms. The platform also works with over 25 global banks and several large insurers including JPMorgan Chase, Citibank and India’s largest insurer, Life Insurance Corporation (LIC).
Some of these brands previously used marketing platforms from existing companies like Adobe, Oracle, and Salesforce. MoEngage has since won over 300 of them, helping to drive growth in the North America and EMEA regions.
In one example, SoundCloud migrated more than 120 million users to MoEngage within 12 weeks, using AI-powered insights to accelerate product launches and increase retention among its paid users, said Hope Barrett, senior director of martech at SoundCloud.
Many of MoEngage’s customers also relied on multiple point solutions to handle specific tasks. The company helped consolidate those tools into a unified platform to cut costs and streamline marketing operations.
“If you look at all our brands, whether it is a bank or an e-commerce company, they leverage MoEngage to integrate all their customer data from all touchpoints. Be it their offline stores, websites, mobile apps (or other channels),” Dodda told TechCrunch.
Without disclosing exact figures, Dodda said MoEngage grew by about 40% year-on-year last year and aims to maintain a 35% compound annual growth rate (CAGR) over the next three years. The company also expects to be EBITDA positive on quarterly basis by the end of the current financial year.
MoEngage sees companies like Braze and CleverTap, as well as legacy marketing clouds from Adobe, Oracle, and Salesforce, among its major competitors.
The startup has about 800 employees in 15 offices around the world. It plans to expand its workforce, particularly in North America and Europe, by enhancing its customer success, support, sales and marketing teams to deepen its presence in those markets. MoEngage also intends to build additional AI capabilities and hire more talent to support that effort.
Without sharing any specific timeline for going public, Dodda told TechCrunch that MoEngage plans to be IPO-ready in the next few years.
“We see an opportunity to create a billion-dollar revenue company in our region,” he said.
